Cryptocurrency has been the talk of the town for the last few years. With the prices and figures of Bitcoins becoming inconsistent, people have started to doubt how profitable will it be to invest in Bitcoins. However, they still remain to be really expensive and valuable considering that people cannot mine Bitcoins at their home anymore. Hence, the availability of Bitcoins is now limited, with only 21 million of them being in the market.
- The Positive Side
But, the real question is whether Bitcoins are really capable of being the future currency or not. The answer to this question might be different for a different set of people. Those who have invested in Bitcoins and believe it to be a potential currency have this notion that with time, people will become more aware of the currency and adopt it slowly. Over the last decade, it is seen that popularity has surely been on the rise with many international companies like Amazon, Dell, Tesla, etc. accepting payments in the form of Bitcoins. So that seems to be a positive sign for investors.
- The Negative Side
On the other hand, Bitcoin is virtually generated money. There is no centralized core that manages or regulates the money. The lack of a solid organization that will be controlling the currency is the biggest challenge in the success of Bitcoins. Also, the circulation of Bitcoin is not large enough. That is why it is not possible to use it on a massive scale to be used by the mass population.
- Final Verdict
Certainly Bitcoins will not die so easily. They will continue to exist in the cryptocurrency industry and their value might go up in the future as well. Currently, a single Bitcoin is valued well around $7200 mark and is expected to cross $8000 oder so, by the first quarter of the year 2020. But, standing in 2019, it does not seem that Bitcoins will be representing the new face of currency of the world in the near future.